Hard Inquiry dropped Experian score by 74 points ?!

[Anonymous]

Hi guys I'm new to this forum and site as a whole. But to keep it short and sweet I recently did a credit check for an apartment and my experian was 738. Now I see a new alert on my credit profile saying that due to the hard inquiry, the score dropped 74 points. Why is that? Don't inquiries typically drop your score by 3-25 points. So why so much? I am new to the credit, I'll be 21 on the 21st and I've only been building credit for 3 years.  But all of my accts are in good standing I pay my bills before they're due and I keep the utilization low. I have different types of credit and I'm very responsible with my money. My credit scores were 751 TU, 741 EQ and 738 EX. Now the Experian is 664? Why? I'm so heartbroken :-( 

[Anonymous]

Where is these score from? ITs FICO score or the score you gotten from the actual CR web site?  Some time inquries doesnt lower the score, some time it does its all depending on what you have in yoru files.

You seem to have a good mixed credit and good standing.  If these score is not FICO score then I wouldnt be worry about it, when lender pull your credit and score it will be from FICO score depending on what model the lender use to pull your credit report.

[Anonymous]

Hi sticky rice,

thanks for your reply! Actually all of those scores are from this site (myfico) so idk why it dropped so much?

[Anonymous]

IS there anything change in your file? I has to because just a hard pull wouldnt affect 74pt drop like that.

[credit-hunter]

OP a hard inquiry would not affect your score like that maybe 3-5 points that's it something else happen pull all 3 of your reports and check them.

[Anonymous]

Hello all,

I apologize for a late reply. I did find out what casued it: I had a derog account in 2013 (which has been paid off and closed since then) but a few months ago, I submitted a dispute to Capital One (the CCC that the derog was with) and asked for it to be removed because of personal issues (mom was sick, had to move home from college and get a job and pay bills...CC was the last thing on my mind). Well they gave me their response, which was a "NO" considering my situation. Anyways the lady told me she was going to do something to have my credit report updated, I forgot what it was, but after that change my scores plummeted :-/. I have since rebuilt them a bit and I expect another jump since I've paid down on my student loans. But anyways, thanks again for your help! I was so confused as to what happened but youe suggestions gave me clarity.

[gdale6]

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@Anonymous wrote:

Hello all,

I apologize for a late reply. I did find out what casued it: I had a derog account in 2013 (which has been paid off and closed since then) but a few months ago, I submitted a dispute to Capital One (the CCC that the derog was with) and asked for it to be removed because of personal issues (mom was sick, had to move home from college and get a job and pay bills...CC was the last thing on my mind). Well they gave me their response, which was a "NO" considering my situation. Anyways the lady told me she was going to do something to have my credit report updated, I forgot what it was, but after that change my scores plummeted :-/. I have since rebuilt them a bit and I expect another jump since I've paid down on my student loans. But anyways, thanks again for your help! I was so confused as to what happened but youe suggestions gave me clarity.

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Unfortunately when they updated it the status date came current and it looks like the CO happened today, it had been stopped from updating due to it being paid off. I would never let them do any updates, just decline them in the future and cancel whatever request you made.

[Anonymous]

Hi gdale

Thanks for the suggestion. Is there anyway that I can undo that? Or get them to put it back to the way it was? Thanks again!

[gdale6]

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@Anonymous wrote:

Hi gdale

Thanks for the suggestion. Is there anyway that I can undo that? Or get them to put it back to the way it was? Thanks again!

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Whats done is done it cannot be undone, this is they way the system works unfortunately for us at times.

[Anonymous]

Ok np. As stated I have started paying down my student loans, and that's the only account I currently have a huge balance on ($4600). I have 5 other open accounts that are in good standing, the derog is literally the only bad thing on my CRs so I have faith that I'll be able to rebuild my credit soon. I'm only 21 so, I have more than enough time. Thanks again!